NTR invests €35m in French wind farm market
NTR has made a move into the French renewable energy market with the purchase of two wind farm projects for a combined investment of over €35m.
The toll roads operator-turned-wind and solar farm investor has bought the 8.8-megawatt Bricqueville project in Normandy and the 10.2-megawatt Saint-Pierre-de-Juillers project in the Nouvelle-Aquitane region in south-west France.
Between them, the two projects will produce enough clean energy to power approximately 11,000 homes.
"These two acquisitions are a strong demonstration of our intent to be an active participant in the rapidly growing French wind and solar market," said NTR's chief investment officer Manus O'Donnell.
NTR has identified the French onshore wind and solar market as a core target for its second sustainable infrastructure fund. France is the ninth largest renewables market in the world and the French Government recently reiterated plans to double France’s renewables generating capacity over the coming decade.
NTR currently owns wind farm assets across the island of Ireland and in Scotland and England. It also owns solar assets in England.
It sold its US renewable energy assets in 2014 when the Roche family-owned Woodford Capital took sole control of the group. NTR invests in renewable energy projects, via its investment funds, on behalf of institutional investors.
Mr O'Donnell said NTR intends to further expand its French presence.
